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Great Eastern Bank of Florida

Miami, FL · Cert 33872

FDIC

Q1 2013

$45.6MAssets
$32.6MLoans
$39.8MDeposits
$4.9MEquity
Loan mix
85%RE $21.5M14%C&I $3.6M1%Consumer $0.2MQ1 2012Q1 2013
Deposit mix
69%Interest-bearing $27.6M31%Noninterest $12.2MQ1 2012Q1 2013

NIM

3.91%Q1 ’113.91%Q1 ’124.11%Q1 ’13+7%+16%

Non-interest income vs. expense

4.36%Q1 ’116.04%Q1 ’127.35%Q1 ’13+53%+21%

Executive Summary

  • Earnings: ROA of -2.87%, down 31 bps year over year; NIM at 3.89%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.02%.
  • Funding: loans stand at 81.99% of deposits as of Q1 2013.

Financial Results

Return on Assets (quarter, annualized)

-2.87%-31 bps YoY

Net Interest Margin (quarter, annualized)

3.89%+54 bps YoY

Efficiency Ratio (quarter, annualized)

160.68%+470 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2012Q2 2012Q3 2012Q4 2012Q1 2013YoY ΔTrend
Earnings
Return on Assets-2.56%0.04%-1.52%-0.61%-2.87%-31 bps
Return on Equity-24.20%0.37%-13.92%-5.42%-26.12%-192 bps
Net Interest Margin3.36%3.73%3.95%4.06%3.89%+54 bps
Efficiency Ratio155.98%99.38%142.37%99.39%160.68%+470 bps
Non-Interest Burden5.52%3.70%5.46%4.03%6.67%+115 bps
Growth
Asset Growth (YoY)-18.03%-15.25%-19.59%-17.08%-11.36%+666 bps
Loan Growth (YoY)-18.79%-9.77%-7.86%-14.63%-8.89%+990 bps
Deposit Growth (YoY)-14.03%-13.93%-19.50%-19.39%-12.06%+197 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.02%-0.02%-0.03%4.87%-0.02%0 bps
Allowance / Loans2.71%2.61%2.67%1.89%1.95%-75 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital14.85%14.61%14.44%14.68%14.23%-62 bps
Equity / Assets10.62%10.78%11.01%11.35%10.64%+3 bps
Liquidity & Funding
Loans / Deposits79.13%83.49%86.60%85.29%81.99%+285 bps
Liquid Assets / Assets10.19%7.20%8.02%8.54%12.66%+247 bps
CRE / Total Capitaln/an/an/an/an/an/an/a